Pradhan Mantri Kisan Samman Nidhi Yojna (PM-KISAN) is a welfare scheme initiated by the Government of India to financially support the farmers across the country. The scheme aims to provide financial assistance of ₹6,000 per year to farmers who own less than 2 hectares of land.
The PM-KISAN scheme was launched on 24th February 2019. The scheme is implemented by the Department of Agriculture, Cooperation and Farmers Welfare, Ministry of Agriculture and Farmers Welfare. The scheme is funded by the central government and is estimated to have Rs. 75,000 crore allocation. The scheme aims to benefit around 145 million farmers across the country.
The scheme provides financial support to farmers in three equal instalments of ₹2,000 each, in every four months. The first instalment is credited from April to July, the second instalment from August to November and the third instalment from December to March.
The scheme has simple eligibility criteria. All farmers who hold a valid Aadhaar number and whose names are registered in the land records of the respective State or Union Territory are eligible for the scheme. The scheme is applicable to all landholding farmers, irrespective of the crop they cultivate. The scheme is also open to those farmers who have taken loans from banks or financial institutions.
The scheme has made the transfer of funds as seamless as possible. The funds are directly transferred to the beneficiary farmer’s bank account through the Direct Benefit Transfer (DBT) mode. The farmers can check their status and update their financial details through the official PM-KISAN website.
The PM-KISAN scheme has a unique and ambitious goal of providing direct financial support to small and marginal farmers, who have been systematically marginalized over the years. The scheme has the potential to bring significant improvements in the lives of farmers by providing them with the necessary financial support to undertake farming activities.
In conclusion, the PM-KISAN scheme is an essential initiative by the Government of India to provide financial assistance to small and marginal farmers across the country. The scheme aims to improve the economic situation of farmers, and it is expected that it will stimulate the agricultural sector’s growth, ultimately leading to overall economic growth.